President Obama's comments about boat ownership in New Hampshire

[Nimrod]

Tuesday the President said that people should not be buying a boat if they cannot make their mortgage payment. "When times are tough, you tighten your belts. You don't go buying a boat when you can barely pay your mortgage." While obvious, it is unfortunate that the President would pick an industry that is made up of employees that are middle class and a lifestyle enjoyed by the middle class.

NMMA wrote a letter to the President asking him to visit boat building plants in the US to make the point that we are net exporters - and that the marine industry adds value to the US economy.


FROM: NATIONAL MARINE MANUFACTURERS ASSOCIATION
200 E. Randolph Dr., Suite 5100
Chicago, IL 60601-6528
FOR IMMEDIATE RELEASE
CONTACT: Ellen Hopkins (ehopkins@nmma.org; 312.946.6249)

NMMA Calls on President Obama to Clarify Boating Comments
Invites President to Tour a Boat Factory

CHICAGO, Ill., February 3, 2010 – The National Marine Manufacturers Association (NMMA), the recreational boating industry’s largest trade group, has called on President Obama to clarify his remarks in Nashua, New Hampshire yesterday which associated purchasing a boat with irresponsible spending. The President made this off-the-cuff remark at a town hall event announcing his new Small Business Lending Initiative. The President has already apologized to Las Vegas for similar comments he made in the same speech.

“The recreational boating industry is one of the last remaining American manufacturing businesses and net exporters, contributing over $30 billion in new sales and services to our nation’s economy each year, said NMMA president Thom Dammrich. “We don’t believe the President meant any harm by his remarks, but we encourage the President to join us in celebrating the U.S. recreational boating industry and stay focused on creating the conditions for a strong business environment, including his own remarks.”

NMMA today sent a letter to the President encouraging him to visit a boat manufacturing plant and describing the U.S. boating industry. “Boats are made by middle-class Americans for middle-class Americans. By associating buying a boat with irresponsible spending, President Obama does a disservice to the very middle-class boat manufacturing communities across the U.S., such as Elkhart, Ind. We ask that he instead encourage Americans to spend responsibly and enact effective policies to get banks lending again so the American middle-class can get back on its feet,” said Dammrich.

The U.S. recreational boating industry creates over 200,000 jobs in the United States, and has a total annual economic impact of $100 billion, including over $30 billion in new sales and services each year. Boating is a middle class activity where 75 percent of boaters have an annual household income of less than $100,000, and 95 percent of boats are under 26 feet in length.

Recreational boating has been impacted by the distressed American economy, notably waning consumer confidence, tightened credit and banks’ unwillingness to support floorplan lending and the housing market crash. New powerboat sales decreased an estimated 28 percent in 2009 and 24 percent in 2008, leading to tremendous job loss and a decrease in boat manufacturing activity across the U.S.

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About the National Marine Manufacturers Association (NMMA): NMMA is the leading association representing the recreational boating industry in North America. NMMA member companies produce more than 80 percent of the boats, engines, trailers, accessories and gear used by boaters and anglers throughout the U.S. and Canada. The association is dedicated to industry growth through programs in public policy advocacy, market statistics and research, product quality assurance and promotion of the boating lifestyle. For more information, visit www.nmma.org.

http://www.tradeonlytoday.com/home/5...t-buying-boats

[RCARNEY]

Thanks for taking the time to post the above. Seems that he will soon run out of feet to shoot, first, Vegas(twice) and now a domestic industry that they nearly killed with the Luxury Tax in the 90's.

[seapower]

I think you may have taken' him the wrong way. He's not against boats, he's just against the folks that can afford them. It's really a very simple principle to understand. I think they call it the current Administration. Frank